Which statement best explains the significance of Annualization for New York State?

• A seasonally adjusted annual rate expresses a quarter’s pace as if sustained for a year and should not be read as literal quarterly production.
• State GDP rankings require consistent metric definitions, periods, and releases because nominal, real, annual, and quarterly series answer different questions.
• Real GDP uses chained-dollar methods to estimate changes in production while reducing the effect of price changes.
• BEA revisions are part of normal statistical production and make publication dates essential metadata for state-economy research.